Which of the following is NOT a determinant of the price elasticity of supply? (2) (1) The length of time that has elapsed since the change in the price of the good; (2) The possibility of stockpiling the good; (3) The availability of substitutes in consumption; (4) The availability of inputs.

Which of the following is NOT a determinant of the price elasticity of supply? (2) (1) The length of time that has elapsed since the change in the price of the good; (2) The possibility of stockpiling the good; (3) The availability of substitutes in consumption; (4) The availability of inputs.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 3MC

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Question

Which of the following is NOT a determinant of the price elasticity of supply? (2)
(1) The length of time that has elapsed since the change in the price of the good;
(2) The possibility of stockpiling the good;
(3) The availability of substitutes in consumption;
(4) The availability of inputs.

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